, September 08, 2017 ) Latin America Contact Lenses Market
to grow over $900 million.
According to the report Latin America Contact Lenses Market, published by Market Data Forecast, the market is projected to reach USD 900 million by 2021, at a CAGR of 6.71% from 2016 to 2021.
WHO states that about 285 million people are visually impaired and nearly 246 million of them have low vision. Globally, uncorrected refractive errors are the main cause of moderate and severe visual impairment. 80% of all visual impairment can be prevented or cured. Contact lenses are one of the aiding devices used to repair vision
They can be used for vision correction or for cosmetic and novelty purpose. Contact Lenses are medical devices, regulated by Food and Drug Administration (USA), hence requires prescription. The various types of contact lenses are Soft contact lenses, Silicone Hydrogel Contact Lenses, and Rigid Gas Permeable Contact Lenses, among others.
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Contact Lenses Market: Drivers & Restraints
The growth of Contact Lenses market is majorly driven by factors such as convenience to use, comfortability, consumers’ preference for lenses over glasses, and advanced technology. The key restraints of the market are rising cost, limited stock of product, economic slump, limited purchasing power, and increase in demand for corrective eye surgery (Laser-Assisted in Situ Keratomileusis ‘LASIK’ and Photorefractive Keratectomy ‘PRK’).
Get accurate market forecast and analysis on the Contact Lenses Market.
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Contact Lenses Market: Segmentation
• Silicone Hydrogel
• Rigid Gas Permeable
• Polymethyl Methacrylate
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Contact Lenses Market: Overview
The Latin America Contact Lenses Market was worth $600 million in 2016 and projected to grow at a CAGR of 6.71% to reach $900 million by 2021.Therapeutic and Cosmetic are the most popular among the applications segment. Silicone hydrogel are the most popular among the material segment. The market is expected to grow at rapid rate due to trends of using cosmetic contact lenses
Contact Lenses Market: Region-wise Outlook
Regionally the Latin American Market is categorized into regions of Argentina, Brazil and Mexico. Argentina hold the major share in the market due to its population and increasing demand of cosmetic and therapeutic lenses. Brazil is the fastest growing region owing to its rapid medical advancements and increasing adoption rate.
Key Questions Answered
• What is the current and future Contact Lenses market outlook in Latin America? What trends are affecting the market?
• What is the competitive landscape and market share of major players in the Contact Lenses Market space in Latin America?
• What are the key, high growth markets that Contact Lenses Market manufacturers should expand into? Which market segments are growing the fastest?
• What are the unmet needs with the Contact Lenses currently on the market? How will emerging technologies fulfil these unmet needs?
• What is patient perception and market outlook of Contact Lensess?
• What are the challenges and barriers that have hindered widespread adoption of Contact Lensess?
Contact Lenses Market: Key Players
The major companies dominating the Latin America Contact Lenses Drugs market are Johnson & Johnson (USA), Bausch & Lomb (USA), CooperVision (USA), Hydrogel Vision Corp (USA), Abbott Medical Optics, Inc. (USA), Alcon Laboratories, Inc (USA), Carl Zeiss AG (Germany), CIBA Vision (USA), Essilor International (France), and Contamac (United Kingdom).
Reasons to buy Contact Lenses Market Report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
• Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
• A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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